Seadrill (SDRL) Beats Q3 Earnings and Revenue Estimates

Core Viewpoint - Seadrill reported quarterly earnings of $0.49 per share, significantly exceeding the Zacks Consensus Estimate of$ 0.05 per share, but down from $1.10 per share a year ago, indicating an earnings surprise of 880% [1][2] Financial Performance - The company achieved revenues of$ 354 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 5.05%, although this is a decrease from $414 million in the same quarter last year [2] - Over the last four quarters, Seadrill has consistently surpassed consensus EPS and revenue estimates [2] Stock Performance and Outlook - Seadrill shares have declined approximately 15.5% since the beginning of the year, contrasting with the S&P 500's gain of 25.8% [3] - The company's current Zacks Rank is 5 (Strong Sell), indicating expectations of underperformance in the near future [6] Earnings Estimates - The consensus EPS estimate for the upcoming quarter is -$ 0.57 on revenues of $270 million, while the estimate for the current fiscal year is$ 1.26 on revenues of $1.35 billion [7] Industry Context - The Oil and Gas - Drilling industry is currently ranked in the bottom 8% of over 250 Zacks industries, suggesting a challenging environment for stocks in this sector [8]